Finance
Revolut seeks Peru banking license to expand Latin America footprint
Published by Global Banking & Finance Review®
Posted on January 19, 2026
1 min readLast updated: January 19, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 19, 2026
1 min readLast updated: January 19, 2026
Revolut is pursuing a banking license in Peru as part of its strategy to expand in Latin America, aiming to capitalize on the region's digital banking opportunities.
Jan 19 (Reuters) - Britain's Revolut said on Monday it has applied for a full banking license in Peru, marking the global fintech firm's fifth market expansion in Latin America.
The $75 billion company - pegged as Europe's most valuable financial technology company - has been rapidly growing into global high-growth markets under its strategy to reach 100 million customers by 2027.
It recently received a crypto license in Cyprus and announced plans to launch a payment platform in India.
Revolut's Peru foray reflects growing private sector interest in Latin America's digital banking sector, as near-universal smartphone adoption and a still-underbanked population create opportunities for digital fintech firms.
A full license would allow Revolut to gradually introduce a wider range of localised products.
The London-based firm, which has more than 70 million retail customers globally, has already announced expansion plans in Brazil, Mexico, Colombia and Argentina as it seeks to capture market share in the region's rapidly digitising economies.
(Reporting by Yamini Kalia in Bengaluru)
A banking license is a legal authorization granted by a regulatory authority that allows a financial institution to operate as a bank and offer banking services to customers.
Digital banking refers to the use of digital technology to deliver banking services, allowing customers to manage their accounts and conduct transactions online or through mobile apps.
Localized product offerings are financial products and services tailored to meet the specific needs and preferences of customers in a particular geographic market.
Market expansion is the strategy of entering new markets to increase a company's customer base and revenue, often involving new geographical areas or customer segments.
A fintech company is a business that uses technology to provide financial services, including banking, payments, investment, and insurance solutions.
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